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NCUA Issues Prohibition Orders

ALEXANDRIA, Va. (Dec. 31, 2014) – The National Credit Union Administration has issued six orders in December prohibiting the following individuals from participating in the affairs of any federally insured financial institution:

  • Nicole Cheung, a former employee of OTS Federal Credit Union in Honolulu, Hawaii, pleaded guilty to the charges of embezzlement and misapplication of funds. Cheung was sentenced to 20 days in prison, five-years supervised release and ordered to pay restitution in the amount of $21,607.

  • Jan Lyle, also known as Janet Hoffman, the former CEO of Health Care Professionals of Napa Federal Credit Union in Napa, California, consented to the issuance of an order of prohibition to avoid the time and expense of administrative litigation.

  • Lois M. Morabito, a former employee of Leominster Credit Union, in Leominster, Massachusetts, admitted to the facts sufficient for a finding of guilty of the charges of larceny, forged records, receipt of stolen property and check forgery. Morabito was ordered to pay restitution in the amount of $5,867.59.

  • Jenny Nishida, a former employee of OTS Federal Credit Union in Honolulu, Hawaii, pleaded guilty to the charge of embezzlement and misapplication of funds. Nishida was sentenced to 13 months in prison, five-years supervised release and ordered to pay restitution in the amount of $330,459.99.

  • Patricia A. Simko, a former employee of ACMG Federal Credit Union in Solvay, New York, consented to the issuance of an order of prohibition to avoid the time and expense of administrative litigation.

  • Dona Takushi, a former employee of OTS Federal Credit Union in Honolulu, Hawaii, pleaded guilty to the charges of embezzlement, misapplication of funds and making false entries. Takushi was sentenced to 15 months in prison, five-years supervised release and ordered to pay restitution in the amount of $78,138.55.

NCUA enforcement orders are available online and for inspection at NCUA’s Office of General Counsel between 9 a.m. and 4 p.m. Monday through Friday. You also may order copies by mail from NCUA, 1775 Duke St., Alexandria, VA 22314-3428. 

Credit unions may search prohibition and administrative orders by name, institution, city, state and year at http://go.usa.gov/gFP5. The webpage also provides links to the enforcement actions of other federal banking regulators against other institutions or their affiliated parties.

Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million.



NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov, NCUA also educates the public on consumer protection and financial literacy issues.

--NCUA--

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
Mobile: 571.438.0801
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223
bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"

10/5/2018 11:14 AM